Trading volume in COMEX gold futures rose 18% this week, reflecting growing investor conviction in safe assets. The "future gold price forecast" aligns with macro hedge fund positioning towards $2,370 levels this summer. The scheduled September employment report will not be released by the Bureau of Labor Statistics on Friday until the federal government shutdown ends. The jobs data will be an important gauge of the health of the U.S. labor market following the Fed’s quarter-point interest rate reduction in September. For now, analysts will rely on private data and estimates. The median forecast estimates the economy added 51,000 jobs in September while the unemployment rate remained steady at 4.3%. Despite the lack of data, investors are pricing in two more rate cuts in 2025, which would bring the year-end target federal funds rate to 3.50% to 3.75%. At the start of 2025, the federal funds rate target range was 4.25% to 4.5%. Foxconn third-quarter revenue hits record, misses market forecast Current price action in gold shows resilience amid equity market volatility. The "future gold price forecast" now incorporates higher probability scenarios of rate cuts by year-end, boosting the upside targets for the precious metal.